PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6. PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment consisted of the following:

	December 31,		December 31,
	2014		2013
Automobiles	$	1,021,089	$	1,046,542
Buildings		16,587,178		17,480,188
Office equipment		986,892		1,012,007
Machinery and equipment		8,869,381		8,386,357
Furniture and fixtures		111,615		114,398
Total cost		27,576,155		28,039,492
Less: Accumulated depreciation		(10,556,028)		(8,788,441)
Property, plant, and equipment, net	$	17,020,127	$	19,251,051

The buildings owned by the Company located in Jinzhong and Quwo in Shanxi Province, China are used for production, warehousing and offices for our corn and grains business.

As of December 31, 2014, $5.7 million (RMB 35.2 million) of buildings, machinery and equipment owned by the Taizihu Group were pledged as collateral for short-term bank loans.

Depreciation expense for the year ended December 31, 2014 and 2013 was $1,767,588 and $1,983,394, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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